GCSE Mathematics Targeting Grade C Number Unit 4 Percentages and Interest Can you: If not you need TOP: Review how to find simple percentages •Find percentages of amounts Practice 1: Splitting percentages up •Find percentage increase or decrease Practice 2: Finding percentage increase and decrease Try a test TAIL 1 •Find simple interest Practice 3: Finding simple interest •Find compound interest Practice 4: Finding compound interest Try a test TAIL 2 TOP: Solve these simple percentage questions. (1) Find 10% of £20 (2) Find 50% of £100 (3) Find 30% of £60 (4) Find 70% of £120 (5) Find 75% of £200 Lesson Remember to split the amount into 10% (by dividing by 10) and then multiply by the number of 10s you need! Practice 1: Solve these percentage problems. (1) Find 35% of £120 (2) Find 83% of £250 (3) Find 12% of 75kg Split your percentage into parts like 10%, 5%, 2 ½% and 1% Remember to find 10%, then 1% (by dividing your 10% by 10), (4) (5) Find 17 ½% of 70 miles Find 24% of £65.50 Lesson or 5% (by dividing your 10% by 2), or ½% (by dividing your 1% by 2), or 2 ½% (by dividing 5% by 2. Practice 2: (1) Find these percentage increases. Increase £100 by 15% (2) Increase 85kg by 12 ½% (3) Increase 754 m by 68% Find these percentage decreases. (4) Decrease £100 by 75% (5) Decrease 65 miles by 34% (6) Decrease 378 km by 7 ½% Lesson One way to increase or decrease amounts by percentages is to find the percentage and then add (to increase) or subtract (to decrease) TAIL 1 Are you ready for the answers ? (1) The selling price of a computer is the list price plus VAT at 17 ½ %. The list price of a (1) 17 ½ /100 786 = 137.55 computer is £786. Work out the selling price of the computer. (2) Work out 60% of 5300 kg. 137.55 + 786 = £923.55 (2) 60/100 5300 = £3180 (3) Frances sees three different advertisements for jeans. Bob’s – 15% off £30 Disco’s – ⅔ of £36 Sanjay’s – £22 + 17 ½% VAT Work out the cost of the jeans in each advertisement. (3) (a) 15/100 30 = £4.50 (a) Bob's (b) (c) Disco's Sanjay's 30 – 4.50 = 25.50 (b) 2/3 36 = £24 (c) 17.5/100 22 + 22 = £25.80 Lesson Practice 3: Find the simple interest for the following: (1) £60 for 2 years at 4% interest per annum (2) £150 for 3 years at 7.5% interest per annum (3) £5000 for 6 years at 3% p.a. (4) £2500 for 10 years at 12.5% p.a. (5) £750 for 5 years at 6.5% p.a. Lesson Find the interest for one year then multiply by the number of years! Practice 4: (1) Find the compound interest for the following: £150 for 2 years at 7% p.a. (2) £500 for 3 years at 12% p.a. (3) £7500 for 3 years at 3.5% p.a. (4) £65 for 2 years at 5% p.a. (5) £2500 for 4 years at 6.5% p.a. Lesson Remember the formula (1+(percentage 100))number of years to help you e.g. for (1) do £150 (1.07)2 TAIL 2 (1) Yesterday Simon repaired a computer and (1) 5/100 269.30 = 13.465 charged a total of £269.30. Simon reduces his charges by 5% when he is paid promptly. He 269.30 – 13.465 = was paid promptly for yesterday's work on the computer. 255.835 = £255.84 Work out how much he was paid. (2) Jane is going to buy a computer for £480 + 17 ½ (2) 17 ½ /100 480 + 480 % VAT. Work out the total price, including VAT, that Jane will pay for the computer. = 84 + 480 = £564 (3) Find the simple interest on £2500 invested for 2 (3) 6/100 2500 = 150 years at 6% per year. “150” 2 = £300 (4) £5000 is invested for 3 years at 4% per annum compound interest. Work out the total interest earned over the three years. (4) 1.043 5000 = £5624.32 (5) Work out the simple interest on £530 at 4.5% per(5) 4.5/100 530 = 23.85 annum after 3 years. Lesson Are you ready for the answers ? “23.85” 3 = £71.55